The cryptocurrency industry has blown in India in the past year. In this article, we will compare two crypto exchanges, Binance vs CoinDCX. Read on to know more
IMAGE: BINANCE AND COINDCX TWITTER
In the past few months, cryptocurrencies have become a mainstream investment and trading option, made possible due to the easy access people have to buy cryptocurrencies, thanks to crypto exchanges such as Binance, WazirX, CoinDCX and many more. Many newcomers into the crypto space are often confused as to which crypto exchange they should be using. In this article, we will be comparing two crypto exchanges, Binance vs CoinDCX and help potential investors decide which exchange is better suited for their needs. Read on for more details on Binance vs CoinDCX.
Binance vs CoinDCX
Binance vs CoinDCX Binance is an internationally acclaimed crypto exchange that provides cryptocurrency exchange services to more than 180 countries around the world. CoinDCX is a crypto exchange that was formed in 2018 in Mumbai, but it has a lot of features that Indian investors might find attractive. Moreover, Binance is aimed more towards crypto experts who know what they are doing, so Binance has a lot of advanced features that are useful to pros, but make it simply harder to use for newcomers. In comparison, CoinDCX is fairly easier to use and navigate
Binance Fees vs CoinDCX Fees
The Binance Fees is fixed at 0.1 per cent, which is one of the lowest fees in the industry. As for withdrawals, Binance charges a minimum of $10 fees, with 3.5 per cent additional withdrawal fees. Binance also has its own coin crypto called Binance Coin, which is one of the most valuable crypto coins in the world. However, the withdrawal fees that Binance charges may be a tad expensive for Indian consumers.
In this aspect, CoinDCX offers almost the same fees. CoinDCX charges a 0.1 per cent takers fee and 0.1 per cent makers fee. The withdrawal fees are much lower, about 0.2 per cent of the total withdrawal of Rs 10 flat fee, whichever is higher. Moreover, the CoinDCX app provides many other features such as DCXmargin, DCXfutures and DCXstake which are not available in most Indian apps. The main selling point for CoinDCX is the fact that it has more than 200 cryptos listed on the exchange, as they proclaim on their app.
Binance Review vs CoinDCX Review
The reviews for the CoinDCX have been fairly positive on PlayStore, but many people have complained about their funds not being transferred or problems in trading during peak trading times. Binance also has fairly positive reviews but some people have complained about their slow customer service. It should be noted that the Indian crypto exchanges have been facing problems with the Indian banks as many banks are refusing services to exchanges
DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this websites does not constitute investment advice, financial advice or trading advice. Republic World does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial adviser before making any crypto investments.
IMAGE: COINDCX AND BINANCE TWITTER